BAKU, Azerbaijan, Nov.30
By Leman Zeynalova – Trend:
Thanks to the favorable business environment and infrastructure in Azerbaijan, macroeconomic stability and a fertile ground for attracting foreign investment, foreign investors are interested in investing in many sectors of Azerbaijan’s economy, including the renewable energy sector, Azerbaijan’s Minister of Energy Parviz Shahbazov said in an exclusive interview with Trend.
“In this regard, executive agreements have been signed with Acwa Power of the Kingdom of Saudi Arabia and Masdar of the United Arab Emirates for the implementation of 240-megawatt wind and 200-megawatt solar energy projects.
We have worked out draft agreements on the sale and purchase of electricity, as well as on connection to the electricity network in order to start the construction of those plants with the investments of abovementioned companies. Currently, these agreements are in the consultation phase. It is planned to start the construction of the plants by the companies after signing the final agreements and to put them into operation by 2023,” said the minister.
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